WFP, UNEP Boost Global Food and Water Security

WFP, UNEP Boost Global Food and Water Security
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WFP, UNEP Boost Global Food and Water Security

WFP, UNEP Boost Global Food and Water Security

The UN World Food Program (WFP) and the UN Environment Program (UNEP) signed an agreement in Nairobi on Friday to tackle the devastating impacts of the climate crisis, environmental degradation and biodiversity and ecosystem loss on the food and water security of millions of people around the world.

The agreement advances collaboration on climate change adaptation, nature-friendly food systems, water resource management and ecosystems restoration.

It was signed by Cindy McCain, WFP’s Executive Director and Inger Andersen, UNEP’s Executive Director.

“Food and water go hand in hand: we urgently need to restore our ecosystems and scale up climate adaptation programs to ensure future generations have the basic resources needed to grow enough food,” said McCain.

“WFP’s global footprint and operational scale, combined with UNEP’s world-class scientific expertise, will help governments, communities, and families on the frontlines of the climate crisis better protect themselves. Our partnership will reduce humanitarian needs and support long-term solutions to hunger.”

According to Andersen: “If we work more closely together, we can create real, meaningful impact. We can enhance climate mitigation and adaptation. We can support vulnerable populations to address nature-induced conflicts and natural disasters. We can maintain healthy, productive, and resilient ecosystems. We can deliver on both our mandates and reduce the vicious cycle of humanitarian and environmental crises.”



Gold Prices Hold Steady as Investors Await US Fed Policy Cues

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
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Gold Prices Hold Steady as Investors Await US Fed Policy Cues

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Gold prices remained steady on Wednesday, as investors awaited the US Federal Reserve's decision on interest rates due later in the day, while also focusing on US President Donald Trump's trade policies following his tariff threats.

Spot gold eased 0.2% to $2,758.49 per ounce by 09:55 a.m. ET (1455 GMT), while US gold futures rose 0.3% to $2,775.60, widening the premium over spot gold rates.

The Fed is scheduled to release its latest policy decision and statement at 2 p.m. EST (1900 GMT), with Fed Chair Jerome Powell due to hold a press conference half an hour later to elaborate on the meeting.

The US central bank is widely expected to hold interest rates steady as it awaits further inflation and jobs data and more clarity on the economic impact of Trump's policies before deciding whether to cut borrowing costs again.

"However, the Fed's commentary in regards to the potential for an interest rate cut in the March meeting is going to be in focus," said David Meger, director of metals trading at High Ridge Futures.

Gold prices neared all-time highs last week after Trump called for lower interest rates. Bullion tends to thrive in a low-interest-rate environment as it yields no interest.

Prices, however, retreated sharply on Monday as a sell-off in technology stocks, driven by Chinese AI model DeepSeek, sparked a rush to liquidate bullion to counter losses, according to Reuters.

The sell-off in the stock market seen on Monday may not be over and the unpredictability of Trump's policies is contributing to an increased demand for gold as a safe-haven, said Jim Wyckoff, a senior market analyst at Kitco Metals.

Trump still plans to make good on his promise to issue tariffs on Canada and Mexico, and his policies are widely seen as inflationary.

Elsewhere, spot silver gained 1.7% to $30.92 per ounce, platinum also added 0.5% to $946.45. Palladium was up 0.8% to $962.50.